The world’s largest cryptocurrency-trading platform will convert user balances in the stablecoins USDC, USDP and TUSD to BUSD, its own stablecoin. It will also stop supporting “trading pairs,” or direct conversion of one cryptocurrency to another, involving the delisted stablecoins. Users will still be able to withdraw funds in the delisted stablecoins. (The Logic)
The Vancouver-based athleisure retailer’s shares closed up 6.7 per cent at US$314.17 after it said it expects its 2022 net revenue to reach between US$7.87 billion and US$7.94 billion, up from the US$7.61 billion to US$7.71 billion expected three months ago. (The Logic)
A hearing officer with the National Labor Relations Board recommended rejecting the tech giant’s challenge against the Amazon Labor Union’s victory at the Staten Island warehouse. The decision, if ratified by a director, will lead to the first certified union of Amazon employees in the U.S. The company has until Sept. 16 to appeal the decision. (The Logic)
Mark Zuckerberg, CEO of the Facebook parent company, said its Quest VR devices pose “novel, multi-dimensional challenges in spatial computing, cost and form factor” unlike with mobile phone technology. Meta will need Qualcomm’s specialized technologies to push VR “to its limits” in future products, he said. The deal renews a longstanding relationship of over seven years. (The Logic)
U.S. investors Greylock Partners, Trilogy Financial, Flying Fish Partners and Madera Partners also backed the Seattle-based startup. The firm uses AI to help companies understand and optimize sales and marketing. (The Logic)
The code necessary to install the button to offer Amazon’s free, two-day delivery service to shoppers violates Shopify’s terms of service, spokesperson Jackie Warren said. Merchants who add it to their store templates receive a pop-up message warning that the addition “removes Shopify’s ability to protect your store against fraudulent orders, could steal customer data and may cause customers to be charged the wrong amount,” according to screenshots published by e-commerce research firm Marketplace Pulse. (The Logic)
One of China’s largest agricultural e-commerce hubs has quietly introduced Temu, a low-cost online retailer selling a wide range of products from women’s jewelry to mobile phone accessories. (The Logic)
The Alberta public pension fund’s investments lost 6.8 per cent totalling $9.8 billion in the first six months of 2022, down 14.7 per cent from the same period last year. The results were slightly better than the benchmark portfolio against which it measures its performance. It ended the quarter with $136.6 billion in assets. (The Logic)
Two unnamed government sources told La Presse the British firm’s progress has faced challenges that are unlikely to be resolved during the campaign leading up to the Oct. 3 vote. (La Presse)
Information Venture Partners led the US$8 million Series A round. Fidelity International Strategic Ventures also participated. (The Logic)